So, I wouldn't normally comment on these "what's working now" sort of posts, but I can tell you really took the time to think and about and write your post, and you bring up a lot of good points.
Others may search the forum - and they would be right - but I'll try to point you in the right direction, first.
Ah - the Guru model - people who get rich by teaching others how to get rich. Yes, some of them are legit, and some of them are not. Sometimes the model is antiquated and doesn't work as well now. For example, I usually wouldn't suggest people start with dropshipping - although several members here still do dropship and do well, but they started YEARS ago and have also expanded beyond a pure dropship model.
Amazon FBA, Shopify, eBay, etc. are just sales channels - nothing more. Amazon has the 1,000 pound Gorilla for now, and likely for the foreseeable future. If you want to start a product business, I would typically suggest you launch there.
Why should you trust them? You don't know them - and you're right to be (slightly) skeptical. I get targeted all the time with a sales report that says $324,364 - and then I look at the time - one year's sales. So - maybe that's impressive to people who don't look or haven't started, but it's slightly deceptive to me. And I don't even know if it's true.
There are some well known people (Ezra Firestone, Ryan Moran, Digital Marketer guys, etc.) who do know their shit. If Ezra posts a screenshot of over $1m in sales in one month, I generally believe them. But they also want me to buy courses from them - and I know that. I also know much of their marketing is targeting towards new guys, which is ok, but I also know they still have things to teach me and learn. I simply don't have the time to consume every course they put out versus running my businesses.
If you want some course recommendations or want to know some people I'd recommend to follow, reply here and I'll link some.
There are no magic bullets: FBA, Shopify, Drop Shipping. These, really are just buzzwords. The KEY that will make everything else easier: build a product people want. Build a productocracy. Do something that is a little bit different - just a little bit better than everyone else. You don't need to reinvent the wheel, but you need a product that PULLS people.
The fact that you have a 9 to 5 is irrelevant. If you believe in your product and yourself, you'll make it happen. I had a 9 to 5 when I started, as many others did.
I highly suggest reading MJ Demarco's Book - Unscripted - if you haven't yet. Pay attention to his CENTS and productocracy principles.
Read this thread from START to FINISH: GOLD! - Ask me anything about eCommerce (Ongoing) - it's at 65 pages now, and was started three years ago. You'll get a sense of how ecom has changed in 3 years. Read that whole thread, and I guarantee you'll know more about ecom than 80% of the public.
I'm reading this right now: https://www.amazon.com/dp/B00TY3ZOMS/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1 - which I can recommend after the other books and threads I mentioned.
Welcome to the forum. Speed+ for well thought out questions.
Most liked posts in thread: Ecommerce and its Gurus: Does it work in 2019?
Page 1 of 2
There are hundreds of brands that have sold for 7 and 8 figures that have been built entirely on Amazon. I'm not saying only focus on Amazon - but don't be scared to start building your brand there.
You want someone to listen to? An "Amazon guru" who actually knows shit?
Look up anything by Will Tjernlund. Interviews, podcasts, whatever. Bonus if you can find anything by his brother Andrew.
What he preaches worked. works. will continue to work.
So many gold nuggets. So little of it congruent with 95% of the guru echo chamber.
And unlike most gurus, he's actually made shit-tons of money doing exactly what he says.
*disclaimer, I haven't seen any content he's put out since like 2016. I can't speak for anything more current.
Amazon still works. What stopped working is the easy money gravy train.
I have never dropshipped nor done FBA but I'm currently in the "build a product that people WANT". I have two different products I'm building out. One is a physical product and the other is a SaaS. I'll put up the execution threads sometime this week to track it.
I also have a 9-5 but I've seen the power of building something quick (no more than a month and as cheap as possible), put it in front of ONE customer, get feedback, iterate. It took me 5 years to learn this cycle works. Hopefully you can avoid my five years of being a wandering generality.
If you have a business, then read this book, and brainstorm on it's ideas, then you will have 6 full pages of notes on how to sell your product. That don't involve "make an Amazon listing".
And, that's totally fine but I cringe when I hear sellers say "I'm building an Amazon FBA business". You don't own anything on Amazon - they do.
Plus, Amazon is leasing planes and launching drones/robots for that 'last mile' delivery. Where do you think they're going with this?
Amazon doesn't scare me - it excites me and I swipe some of their best features for my business when possible.
Don't be fooled into thinking you can't compete in any niche because of Amazon either. I work with multi-million dollar businesses that CRUSH it. We're doing things Amazon can never do either because its so big.
I second everything posted above in this thread. You’re in excellent company.
Think of Amazon like getting into Walmart. It’s another place to sell your goods, so of course you should use it, but it shouldn’t be the only place you’re selling. Ditto on creating something beyond a “me too” product. These platforms, or platforms like it, will always be there with consumers licking at the windows to spend their money. It stops working for people who stop providing enough unique value, those who blend in with thousands of other sellers peddling socks, jewelry and wrist watches.
Make something people need, and they’ll hunt you down with purpose.
I will check these guys you are referring to and well, start reading few pages a day of this thread ah!
Unscripted and Fastlane are next in line! Finishing the one I started recently and I'm on it!!!
I am living in London currently, and we have, you probably heard of it, BREXIT this year... Haha
Extra question, changes in regulation can create threats/opportunities, are there any regulations (US/Europe/Asia) currently posing a threat or potential future one to Ecommerce that I should be aware?
I'm speaking to a lot of guys who are moving away from FBA and building their own brands - I don't blame them either (see previous posts on what I think of Amazon).
As for your question on e-commerce and dropshipping: it works but I'm not keen on it unless its A) local print on demand or B) dropshipped by local suppliers who can deliver within 3-5 working days.
I can sum up rich dad, poor dad for you:
1. Buy appreciating assets
2. Leverage debt only to buy appreciating assets.
3. Increase your cash flow every month by increasing income while decreasing expenditures so you can buy appreciating assets.
Of course sprinkle in about 50 pages of bullshit and that's the general gist of most of these personal finance books. TMF is my favorite because it doesn't F*ck around. Appreciating assets is the LONG game that you should always be playing as plan B. Plan A is take the strategic risks to massively increase your income.
Great thread on branding: https://www.thefastlaneforum.com/co...duct-centered-business-progress-thread.53204/
You'll need a Insider subscription.
It is an outstanding course with huge content to choose from, and it has been running for 15 years, and has a BBB+ rating.
I know about it because one of its modules incorporates a free copy of my safe sourcing and importing book. That's why I can't post a link.
I would always recommend that you don't rely totally on Amazon. If you also operate your own e-commerce site, you can easily get around the Amazon TOS that prohibits you from contacting their (your???) customers.
You do it by incorporating your URL on your label or product branding. Some of your customers will click on it out of curiosity if for no other reason. You should give them reason to visit again and buy.
Let's discuss the "trade war", will it impact your biz?
My post #34 in that thread is headed: HOW TO BEAT THE NEW TARIFFS ON CHINA MADE GOODS.
That post offers suggestions, and the 2019 revision of my sourcing book addresses that issue in detail, with links to export B2B sites in 41 countries including China.
Couldn t agree more about "gurus" being echo chamber..
Thanks for your comment!
I don't really sell much on Amazon anymore. 99% of sales are through my website or dealers.
Love to reply buddy! Your concern is obvious but I want to clarify one thing.
IMO, you should listen to what these Gurus are saying. Maybe all their tips will not work for you but that one strategy will kick off your business beyond your thinking. It's up to you to try and implement the right one.
If you're in a 9 to 5 job, try to invest your time to get expertise in your fav hobby. Then start tutoring online or offline to income extra money.
Must read Reach Dad Poor Dad by Robert Kiyosaki.
Hope you got the answer.
Now apparently some are legit, I will check the one mentioned by JasonR.
I am working in Trading in bank so I have more a 8 to 8 job so I need to focus of educating myself and trying!
But you are righ, tutoring online could be an idea to start getting some extra cash, it could help towards quitting my job one day.
yes Rich Dad Poor Dad is also on my list, heard so much about this book... Have you read it?
I have an extra question that has I guess no right answer. Do you guys think a formation/training is crucial or most of the info are already freely accessible?
But you're right, I have been writing down everything I have to think of in order to maximize my chances and come up with a plan of action!
Don't know what his course is like but its the only one i'd buy if I were looking to get in to FBA.
Page 1 of 2
Join 1000s of entrepreneurs who are rewriting life's script and winning financial freedom.
You must be a member to join the conversation.
Join the community fast and easy!REGISTER
Already have an account? Login here.LOG IN